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Forex Analysis: AUD/USD Classic Technical Report 01.30.2013

Forex Analysis: AUD/USD Classic Technical Report 01.30.2013

2013-01-30 15:48:00
Ilya Spivak, Head Strategist, APAC
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Prices turned lower as expected after putting in a bearish Dark Cloud Cover candlestick pattern below multi-month range resistance in the 1.0578-1.0624 area. Prices a pulling back support-turned-resistance at 1.0485 to challenge rising trend line support set from late October (1.0393). A break lower exposes swing lows at 1.0344 and 1.0286. Alternatively, a reversal through resistance targets a range top at 1.0578-1.0624.

Forex_Analysis_AUDUSD_Classic_Technical_Report_01.30.2013_body_Picture_1.png, Forex Analysis: AUD/USD Classic Technical Report 01.30.2013

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

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